C&C Group expects to deliver full-year results in line with expectations.

C&C Group plc (“C&C” or the “Group”), a leading brand-owner, manufacturer and distributor of cider, beer, wines, spirits and soft drinks, today reports that trading across the Group for the four months to 31 December 2018 has been in line with expectations, including through the key Christmas trading period.

Operational delivery and customer service at both Matthew Clark and Bibendum have been very strong and ahead of plan. We therefore anticipate that their combined financial contribution will be as guided at our half year results on 25 October 2018.

Across the rest of the Group, positive trading momentum has continued into the second half, with revenues tracking mid-single digit ahead of last year.

Accordingly, the Group currently expects to deliver full-year results to 28 February 2019 in line with the Board’s expectations.

Stephen Glancey, CEO, commented:

“Despite the current political uncertainty the Group is increasingly well positioned going into 2019. The new management teams and colleagues at Matthew Clark and Bibendum, have delivered an exceptional operating performance over the key Christmas period. With service levels restored, we now have stable platforms with real growth potential and unparalleled market access to the U.K. on trade. In Scotland and Ireland our combination of leading brands and distribution assets is highly resilient, cash generative and delivering growth.With a strong balance sheet and normalised cash flow conversion of 60-70% of EBITDA we are poised to provide enhanced shareholder returns.”

ENDS

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